Recycled Carbon Fiber Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Chopped carbon fiber, Milled carbon fiber, Non-woven Mats); End-User (Automotive, Aerospace & Defense, Consumer Goods, Wind Energy, Industrial, Sporting Goods, Others); and Region/Country
Global Recycled Carbon Fiber Market is expected to grow at a significant rate of 11% during the forecast period. Recycled carbon fibers are recovered from carbon-reinforced composites and leftovers. In recent years, recycling processes result in recycled fibers with a stiffness that is comparable to virgin fiber according to stiffness measurements. The recovery of carbon fiber by the pyrolysis process results in a slightly larger strength loss of up to 10%. In addition, recycled carbon fiber composite materials are used in industries such as wind energy, aerospace, automotive, construction, and marine sectors to reduce environmental impacts and meet the demand for reusing the product. Major companies in the market offer recycled carbon fiber for providing better solutions such as cost-effective and lightweight. For instance, in April 2022, Gen 2 Carbon, introduced a new product named G-TEX 60 gsm mats that can be processed with any resin system and used as either dry fabrics in liquid moulding processes or as prepregs for autoclave and press moulding.
Vartega Inc., Toray Industries Inc., SGL Carbon SE, Carbon Conversions Inc., Shocker Composites LLC., Procotex Corporation, Alpha Recyclage Composites, Sigmatex, Zoltek, Teijin Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, non-woven mats category is to witness the highest CAGR during the forecast period”
Based on type, the market is segmented into chopped carbon fiber, milled carbon fiber, and non-woven mats. The non-woven mats category is to witness the highest CAGR during the forecast period owing to various applications such as medical, healthcare, personal care, automotive, electronics, filtration, agriculture, horticulture, furnishings, construction, packaging, hygiene, wipes, and apparel. Also, non-woven mats offer advantages in terms of cost and environmental impact over others. Moreover, the entry of global players into emerging markets adds to the growth of the market. For instance, in Sep 2020, Sigmatex, a global leader in the design and manufacture of carbon fiber textiles for the composites industry announced the launch of a recycled carbon fiber non-woven fabric to the market.
“Amongst end-user, automotive to hold a significant share of the market in 2020”
On the basis of end-user, the market is categorized into automotive, aerospace & defense, consumer goods, wind energy, industrial, sporting goods, and others. Among these, the automotive to hold a significant share of the market in 2020. This is mainly due to the rising demand for lightweight materials for improved fuel economy and reduced carbon emissions. In addition, some automotive applications, including lift gate systems, pressure containers, and battery boxes are using recycled carbon fiber which is escalating the growth of the market. For instance, in July 2020, ELG Carbon Fibre Ltd. used recycled carbon for panels and tooling in the phase 1 proof of their concept project of the modification of an existing BEV.
“Europe to hold a significant share in the market”
In 2020, Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because of the high demand from the automotive, aerospace & defense, consumer goods, wind energy, industrial, sporting goods, and other end-user industries. Also, some of the characteristics such as easy affordability, energy efficiency, lightness, and environmental sustainability of recycled carbon fiber are increasing their demand in the region. It also has numerous emerging trends, which have a direct impact on the dynamics of the industry, including the development of various processes and methods to reduce energy consumption and cost during the recycling process. For instance, in May 2022, Boeing trialed recycled carbon fiber in cabin sidewall panels from thermoplastic composites in end-user industries such as automotive and aeronautics. Moreover, the demand for recycled carbon fibers is rising due to the growing environmental regulations by regulatory organizations like the European Union (EU) and the US Environmental Protection Agency (EPA). These regulations are driving up demand for lightweight and environmentally friendly materials. For instance, Scaling textile recycling in Europe, turning waste into value. Where, Fiber-to-fiber recycling at scale could be achieved by 2030, creating a new and sustainable circular industry in Europe.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Recycled Carbon Fiber Market|
|2.2.||Research Methodology of the Recycled Carbon Fiber Market|
|5||IMPACT OF COVID-19 ON THE RECYCLED CARBON FIBER MARKET|
|6||RECYCLED CARBON FIBER MARKET REVENUE, 2020-2028F|
|7.1.||Chopped carbon fiber|
|7.2.||Milled carbon fiber|
|8.2.||Aerospace & Defense|
|9.1.1.||The United States|
|9.1.3.||Rest of North America|
|9.2.2.||The United Kingdom|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||RECYCLED CARBON FIBER MARKET OPPORTUNITIES|
|12||RECYCLED CARBON FIBER MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.2.||Toray Industries Inc.|
|18.3.||SGL Carbon SE|
|18.4.||Carbon Conversions Inc.|
|18.5.||Shocker Composites LLC.|
|18.7.||Alpha Recyclage Composites|
Research Methodology for the Recycled Carbon Fiber Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global recycled carbon fiber market were the three major steps undertaken to create and analyze the adoption of recycled carbon fiber in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global recycled carbon fiber market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the recycled carbon fiber market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the recycled carbon fiber market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the recycled carbon fiber market. Further, we conducted factor analysis using dependent and independent variables such as various types and end-users of recycled carbon fiber. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the recycled carbon fiber market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global recycled carbon fiber market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the recycled carbon fiber market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global recycled carbon fiber market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global recycled carbon fiber market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and end-user in the global recycled carbon fiber market.
The main objective of the Global Recycled Carbon Fiber Market Study
The current & future market trends of the global recycled carbon fiber market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the recycled carbon fiber market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and end-user.
- Define and analysis of the regulatory framework for the recycled carbon fiber
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the recycled carbon fiber market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the recycled carbon fiber market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry